IndusInd Bank's CASA deposits up 46% in 3QFY17

All thanks to the demonetisation.

According to Maybank Kim Eng, demonetisation led to a surge in deposits for banks across the board. IIB’s CASA deposits grew 46% YoY in 3QFY17. Loan growth was widely spread across retail and SME loans.

"Mortgages and cards witnessed 8-10% QoQ growth. But some pockets within vehicle financing, such as commercial vehicles and two wheelers saw weakness in growth (10% YoY vs 15% in 2QFY17). Nonetheless, IIB’s market share grew further with loan growth at 25% YoY compared with the industry at only 5% YoY."

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